Filing Flows › Axsome Therapeutics (AXSM) › Q3 2026
Axsome Therapeutics (AXSM) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 2, 2026
Axsome Therapeutics (AXSM) reported revenue of $260M for the third quarter 2026 (Q3 2026), +52% from a year earlier and +19% from the quarter before. Operating margin was -4.3%, net loss $12.9M (5.0% of revenue).
Axsome Therapeutics, Q3 2026: revenue $260M (+52% year over year), operating margin -4.3%, net loss $12.9M, operating cash flow −$9.5M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $260M | +19% | +52% |
| Operating profit | −$11.1M | — | — |
| Net earnings | −$12.9M | — | — |
| Operating cash flow | −$9.5M | — | -1005% |
What changed
Revenue was $259.7M in Q3 2026, up 52% year over year and up 19% from the previous quarter. Product was the largest line at 96% of revenue. Product added $80.2M year over year (up 47%), 90% of the total change.
Operating costs exceeded revenue by $11.1M, an operating margin of -4.3%. Total costs grew 25% against revenue growth of 52%. The fastest-growing cost line was Cost of revenue (+49%). The quarter ended with a net loss of $12.9M, narrower than the previous quarter's $51.3M loss.
Operating cash flow was −$9.5M. Non-cash charges added back $1.7M of depreciation and amortization and $26.4M of share-based compensation. Working capital and other items used $24.7M. Capital expenditures of $197K exceeded it, leaving free cash flow of −$9.7M.
Questions
What was Axsome Therapeutics' revenue in the third quarter 2026?
Axsome Therapeutics (AXSM) reported revenue of $260M for the third quarter 2026 (Q3 2026), +52% from a year earlier and +19% from the quarter before.
Was Axsome Therapeutics profitable in the third quarter 2026?
Operating loss was $11.1M (-4.3% of revenue) and net loss $12.9M.